Joined: 25/Mar/2009
Location: India
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Posts: 86
Posted: 19/Jan/2010 at 3:57pm
another group company Pennar Patterson (same chairman) had done a massive fraud in 2001, defrauding ppl of hundreds of crores. just FYI..
on pennar, they have a subsidiary manufacturing pre engineered steel buildings..excellent growth prospects..i think this is also sumthn ev1 shud watch out for..
Joined: 29/Mar/2007
Location: India
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Posts: 4243
Posted: 19/Jan/2010 at 4:14pm
All Pennar group companies were in serious trouble and went to BIFR in 2000s. Pennar Paterson was liquidated by the court.
Even Pennar Industries went into BIFR, but managed to come out of it after they changed their business model. As mentioned before, this is a turnaround story.
Joined: 15/Jun/2009
Location: India
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Posts: 4013
Posted: 22/Jan/2010 at 12:47pm
The reason for this strength seems to be this announcement.
Pennar Industries Ltd has informed BSE that a meeting of the Board of Directors of the Company will be held on January 29, 2010, inter alia, to consider the declaration of Interim Dividend for the financial year ending March 31, 2010.
Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart.
Joined: 29/Mar/2007
Location: India
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Posts: 4243
Posted: 22/Jan/2010 at 2:41pm
One of my concerns about this stock was regularity of paying dividends in the future. FY09 was the first year it paid dividends after it turned around.
Joined: 15/Jun/2009
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Posts: 4013
Posted: 22/Jan/2010 at 2:47pm
Originally posted by smartcat
One of my concerns about this stock was regularity of paying dividends in the future. FY09 was the first year it paid dividends after it turned around.
Management seems to be responding to catcalls.
Stockmarket is a weird place. For every person who buys a stock there is a person who sells it and both think they are very smart.
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